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Note 2 - Liquidity and Uncertainties | 6 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Substantial Doubt about Going Concern [Text Block] | NOTE 2- LIQUIDITY AND UNCERTAINTIES The Company has evaluated whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the unaudited condensed consolidated financial statements are issued. As of June 30, 2022 the Company had an accumulated deficit of $112.5 million and has incurred a net loss of approximately $2.9 million $4.8 million for the three and six months ended June 30, 2022, respectively. Management believes that Milestone Scientific will have sufficient cash reserves to meet its anticipated obligations at least the next twelve months from the filing date of this quarterly report. During the first six months ended June 30, 2022, the cash burn from operations has increased. In order to secure the Company’s cash and cash equivalent, aiming at sufficient funds for the next 12 months, management implemented a cost restructuring program to reduce the cash burn. This resulted in a reduction of the direct medical sales organization by half, whereas additional cost savings have been identified in other functional areas. The Company expects the cost savings will sort its effect during the third and fourth quarter of this year. Management believes that these measures are sufficient to take the company forward in the next 18 months. In addition to its employees, the Company relies on (i) distributors, agents, and third-party logistics providers in connection with product sales and distribution and (ii) raw material and component suppliers in the U.S., Europe, and China. If the Company, or any of these entities encounter any disruptions to its or their respective operations or facilities, or if the Company or any of these third-party partners were to shut down for any reason, including by fire, natural disaster, such as a hurricane, tornado or severe storm, power outage, systems failure, labor dispute, pandemic or other public health crises, or other unforeseen disruption, then the Company or they may be prevented or delayed from effectively operating its or their business, respectively. The coronavirus (COVID-19) adversely impacted the Company's operations, our distributors and suppliers in recent years. In spite of the reopening of dental offices, hospitals, and pain clinics throughout the country and the rest of the world, revenues for the three and six months ended June 30, 2022 and 2021 were adversely affected in particular for the medical business. However, any business interruptions, resulting from COVID-19, or new strain, could significantly disrupt our operations and could have a material adverse impact on our business in the future. In addition, it is uncertain as to what effect the continuing spread of COVID-19 will have on the commercialization efforts of our CompuFlo Epidural and CathCheck systems. Such future developments could have a material adverse effect on the Company financial results and its ability to conduct business as expected. Sanctions imposed by the United States and other western democracies, against Russia as a result of Ukraine conflict, and any expansion of the conflict, is likely to have unpredictable and wide-ranging effects on the domestic and global economy and financial markets, which could have an adverse effect on our business and results of operations. Already the conflict has caused market volatility, a sharp increase in certain commodity prices, such as wheat and oil, and an increasing number and frequency of cybersecurity threats. So far, we have experienced a decrease in international sales to Ukraine and halted all sales to Russia, as a direct impact from the conflict. We will continue to monitor the situation carefully and, if necessary, take action to protect our business, operations and financial condition.

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- Definition The entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 40 -URI https://asc.fasb.org/subtopic&trid=51888271 + Details
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